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Home / Metal News / Rising Nickel Price Grows Cautious Buying Interest

Rising Nickel Price Grows Cautious Buying Interest

Oct 10, 2017 13:35

Source:SMM

Trading sentiment in China’s domestic nickel market was moderate, with SHFE nickel fluctuating.

SHANGHAI, Oct. 10 (SMM) – Trading sentiment in China’s domestic nickel market was moderate, with SHFE nickel fluctuating. After continuous price increases, stainless steel mills turned wary of purchases, and only a small amount of downstream producers entered the market for purchases due to low inventories.

Output Cut News Supports High-grade NPI Price

In the morning business, premiums of Jinchuan nickel were at around 1,200 yuan per tonne, and 200-250 yuan per tonne for Russian nickel, with mainstream traded prices between 87,700-88,700 yuan per tonne.

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nickel price

Jinchuan nickel

Russian nickel

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Nickel futures prices rose significantly last week and then fell to around 140,000 yuan/mt on February 26, and the spot transactions rebounded. Currently, the downstream industries of refined nickel have fully resumed work, and the orders from alloy casting enterprises are relatively stable as they had restocked before CNY and maintained production in holiday.

Mar 2, 2021 13:52

SMM Insight Analysis

Spot quotations stood high amid low inventories, downstream demand likely to rebound due to work resumption

Nickel trading quiet in Shanghai on higher futures

Russian nickel was trading at a discount of 300 yuan/mt against the Wuxi Stainless Steel Exchange 1802 contract on Friday February 2 whereas Jinchuan nickel was flat, SMM learned.

Feb 2, 2018 13:46

SMM Comments

Nickel trading quiet in Shanghai on higher futures

One Nickel Salt Plant to Commission New Line in Early 2018

One nickel salt company in Guangxi will commission its newly-built production line in early 2018, Shanghai Metals Market learns.

Oct 31, 2017 13:35

SMM Insight

One Nickel Salt Plant to Commission New Line in Early 2018

Jinchuan Group Lifts Nickel Price 500 yuan on Oct. 31

Jinchuan Group raised nickel ex-works price by 500 yuan per tonne on Tuesday.

Oct 31, 2017 11:16

Reminder

Jinchuan Group Lifts Nickel Price 500 yuan on Oct. 31

Jinchuan Group Cuts Nickel Price 1,800 yuan on Oct. 27

Jinchuan Group cut nickel ex-works price by 1,800 yuan per tonne on Friday.

Oct 27, 2017 11:42

Reminder

Jinchuan Group Cuts Nickel Price 1,800 yuan on Oct. 27

Nickel Price Advances Following Production Cut News

Oct 9, 2017 13:25

Industry

Nickel Price Advances Following Production Cut News

China Refined Nickel Imports to Grow in September, SMM Foresees

The profitable import window for refined nickel was open for most of second month of September, a favorable factor for imports.

Sep 29, 2017 09:35

Industry

China Refined Nickel Imports to Grow in September, SMM Foresees

Premiums for Russian Nickel in Bonded Area Rise Rapidly

With the opening of profitable import window for several days, premiums for Russian nickel in bonded area rose rapidly.

Sep 28, 2017 13:43

SMM Insight

Premiums for Russian Nickel in Bonded Area Rise Rapidly

SHFE Releases More Transaction Fees for Closing out Intra-day’s Positions in Ni 1801 Contract

The Shanghai Futures Exchange (SHFE) announced to further raise transaction fees for intra-day close-out of positions in Ni 1801 contract from night trading on Sept. 22.

Sep 22, 2017 17:17

Industry

SHFE Releases More Transaction Fees for Closing out Intra-day’s Positions in Ni 1801 Contract

Nickel Purchases Grow for Upcoming One-Week Holiday

On Tuesday, Jinchuan nickel was offered at premiums of RMB 800/mt over Wuxi’s 1710 nickel, and Russian nickel at premiums of RMB 250-300/mt over the same contract.

Sep 19, 2017 14:08

Industry

Nickel Purchases Grow for Upcoming One-Week Holiday

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Rising Nickel Price Grows Cautious Buying Interest

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